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Vietnam has been on Washington's watchlist of currency
manipulators because of its trade surplus with the United
States, a large current account surplus and a perception that
its central bank has been actively buying foreign currency.
The new duties will apply to imported passenger vehicle and
light truck tire imports of $469.6 million annually, with a
final injury determination due by April 30 next year, Commerce
said in a statement.
Vietnam Prime Minister Nguyen Xuan Phuc said last month that the
Southeast Asian country's exchange rate policy was not aimed at
helping its exports and told U.S. Trade Representative officials
to ask that President Donald Trump adopt "a more objective
assessment of the reality in Vietnam".
"Vietnam has been following this issue since the investigation
was launched," deputy foreign ministry spokesman Duong Hoai Nam
said on Thursday, in response to questions on the new duties.
"Vietnam will continue to coordinate with U.S. authorities to
clarify and better understand the situation and protect the
legitimate interests of Vietnamese businesses in accordance with
World Trade Organization regulations," Nam said.
The U.S. Commerce Department is also conducting anti-dumping
duty investigations of light vehicle tires from Vietnam, South
Korea, Taiwan, and Thailand and said it expects to announce
those preliminary results on Dec. 29.
(Reporting by Susan Heavey and David Lawder; Additional
reporting by Khanh Vu in Hanoi; Editing by Tom Brown and James
Pearson)
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